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Robert Shiller on Housing - 'I think people do come back'
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Yale University economic professor Robert Shiller and co-creator of the S&P/Case-Shiller home-price index, talks about the housing market. Housing wealth is down, compared to five years ago, he says. The Case-Shiller index is now the same level it was in March 2003, 33% off its 2006 high. The return on investing and housing has been a return in kind, which is hard to translate into a percent. Buying housing right now doesn't seem like a clever move, he comments.
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